Copenhagen Business School, Department of Finance
Postdoc in Financial Frictions Funded by the European

The Department of Finance at Copenhagen Business School is seeking a Postdoc to be part of a research project on financial frictions (FRICTIONS) funded by the European Research Council (ERC). The position is expected to run for one or two years.

JOB QUALIFICATIONS: Applicants for the Postdoc position should have obtained or be close to completing a PhD in finance or a related discipline and must be able to document a strong research potential related to financial frictions, broadly defined.

ABOUT THE ERC PROJECT ON FRICTIONS: The ERC project FRICTIONS seeks to contribute to the knowledge of financial frictions. The principal investigator is Professor Lasse Heje Pedersen. FRICTIONS seeks to explore how financial frictions affect asset prices and the economy, and the implications of frictions for financial risk management, optimal regulation, and the conduct of monetary policy. Key financial frictions include leverage constraints, margin requirements, transaction costs, liquidity risk, and short-sale constraints. The objective is to develop theories of the origins of these frictions, study how these frictions change over time and across markets, and, importantly, how they affect the required return on assets and the economy. Furthermore, FRICTIONS will test these theories using data from global equity, bond, and derivative markets in order to arrive at an empirically validated model of economic behavior under financial frictions that yields qualitative and quantitative insights.

ABOUT THE CBS FINANCE DEPARTMENT: Copenhagen Business School is one of the largest European business schools with 19,000 students. The school offers a wide variety of programs at the undergraduate, graduate and doctoral levels. The Department of Finance consists of 28 faculty members and 16 PhD students, comprising 13 different nationalities. The department provides an attractive and stimulating research environment with excellent research funding. Salaries are competitive with other European schools, and researchers relocating to Denmark from abroad may qualify for a 32% taxation rate.

APPLICATION PROCEDURE: Applicants should submit an electronic application as soon as possible and no later than February 28, 2013. The application must include curriculum vitae, recent papers, and three letters of recommendation. Please send the application by email to: recruiting.fi@cbs.dk. Please address all inquiries and regular mail correspondence to:

Julie de Molade, FRIC Center Coordinator
Department of Finance
Copenhagen Business School
Solbjerg Plads 3
DK-2000 Frederiksberg
Denmark
recruiting.fi@cbs.dk